Morgan Stanley Issues Pessimistic Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its price objective cut by equities research analysts at Morgan Stanley from $127.00 to $125.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price objective would indicate a potential upside of 21.03% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays upped their price objective on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Evercore ISI increased their price objective on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Finally, Bank of America lifted their price target on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $106.64.

Northern Trust Stock Up 0.3 %

Shares of Northern Trust stock opened at $103.28 on Friday. The company has a 50-day simple moving average of $105.59 and a two-hundred day simple moving average of $94.33. The stock has a market capitalization of $20.47 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07. Northern Trust has a 52-week low of $76.67 and a 52-week high of $111.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Insider Transactions at Northern Trust

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following the transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $4,630,839. This trade represents a 37.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Teresa Parker sold 4,439 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.86, for a total value of $447,717.54. Following the sale, the insider now directly owns 79,326 shares of the company’s stock, valued at $8,000,820.36. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,151 shares of company stock worth $8,489,889 in the last 90 days. 0.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northern Trust

Several large investors have recently added to or reduced their stakes in NTRS. FMR LLC increased its stake in shares of Northern Trust by 9.3% in the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after purchasing an additional 1,542,685 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after acquiring an additional 850,556 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after acquiring an additional 388,692 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Northern Trust by 3.9% in the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after acquiring an additional 261,285 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Northern Trust by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after acquiring an additional 219,387 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.